Getting married is practically a dream come true for most individuals. From the younger years when we were dressed up to play little bride/groom at some close relative’s wedding, we’ve all dreamt of the “Big Day” and getting to say the most important two letter words of our adult life “I do”. Preparing for this single most remarkable day is also a huge deal that can leave your finances wounded. How do you ensure you have enough after spending on your wedding day? Read on!
Weddings in Nigeria are usually characterized as largely ceremonious and expensive. Whether the budget is N3m or N50m, Nigerian nuptials are loud, flamboyant and often come with a lot of expenses before and after. The money usually needed in organising a wedding in Nigeria can be at an alarming amount, creating barriers for many intending love-birds who are planning for this auspicious event and so, many couples forget to plan for things that could go wrong.
Though you might not want to think about it, disasters can strike your wedding day. If you’ve planned for your perfect wedding, glitches can be particularly stressful and calamities heart-stopping. From sudden venue cancellations to theft and damage to your wedding gown, having insurance for potential wedding disasters can help protect you against the unforeseen; giving you peace of mind as you walk down the aisle, especially if the celebration will be large and expensive.
So, what exactly is wedding insurance? Does it even exist and how does it work? Here’s the inside scoop.
What Wedding Insurance Is
A simple interpretation of what wedding insurance is: it’s a special insurance policy/package with clearly defined sections that provide financial protection for certain types of potential losses resulting from your wedding ceremony (e.g., postponement, theft of rings or presents, damage to dresses or wedding attire, and loss of deposits), during the period leading up to and including your wedding day.
What Wedding Insurance Covers
Wedding insurance can protect you against a range of unfortunate events like;
- Sickness or injury to the bride, groom, or anyone essential to the wedding. Insurance covers rescheduling the wedding and all the details involved — such as ceremony flowers, tent rental, and reception food.
- If your ceremony and reception site is not insured, wedding insurance can cover the cost arising out of unavoidable cancellation (such as damage or inaccessibility to the ceremony site); if your reception hall burnt in a fire, experienced an electrical outage, or just plain closed down.
Additional coverage could include;
- Loss or damage to wedding attire [the wedding dress], the cake, photographs and video, rings, flowers and gifts for the couple and souvenirs for the guests. Wedding insurance can cover any extra costs you incur up to the policy limit if something goes wrong with these services.
- Another important area covered by wedding insurance is your personal liability for injury to third parties or loss or damage to third party property.
When To Buy Wedding Insurance
Ideally, you should be thinking of buying a wedding insurance policy once you start making your wedding plans. However, if you’re already knee deep in planning, it’s not too late. Wedding insurance in NIgeria is not yet up and running but you will need to ensure that most of the things you will use are insured. Thankfully, most event vendors offer some insurance coverage for the products or services they render that would require some extra charge but if you’re not convinced, you could look up your insurance company for a policy that could extend a cover for some or more of the event details.
Should You Say ‘I do’ To Insurance For Your Wedding?
Absolutely! While it’s yet to be available in Nigeria directly as a full covered policy, you can indirectly get wedding insurance coverage by leveraging on the smaller details that come with insurance coverage e.g e.g, the reception venue, vehicles to be used are insured and the wedding rings, to cover just about anything outside of your control that could mess with your big day. The reality however is, it’s not just about the one day but about the rest of your life. Now that you are married you might want to include other long term insurance plans like Car, House, Health and Life once your big day is over.
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